The Federal Ministry of Finance is in collaboration with the Central Bank of Nigeria (CBN) and the Ministry of Mines and Steel Development and have reached an advance stage in developing distinct Mineral Export Guidelines to aid the determination of Mineral’s quantity, quality and value for export purposes.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun say the Ministry in it commitment to the cause is partnering the Central Bank of Nigeria (CBN) in Crude -Oil and Gas export to mitigate the present economic realities on key Government policies targeted at boosting domestic production, diversifying the export base of the Economy as well as contribute to the current export growth status.
Edun made the disclosure during a one -Day Sensitization Seminar on Nigerian Oil and Gas Exports, with the theme, “Unlocking the Potentials of the Nigeria Gas Exports” A Gateway to Sustainable Economic Development in Kano, Kano State.
The Minister, who was represented by Deputy Director, Trade Relations, Idris Giwa said,” increasing our Gas export as the nation can no longer rely solely on oil revenue for our foreign exchange earnings.”
He hinted that the workshop serves as a platform to deepen the understanding of the evolving regulatory framework, share best practices, and foster collaboration among stakeholders.
The draft Mineral Export Guidelines has been subjected to several reviews, where stakeholders buy- in and endorsements were obtained and incorporated.
According to the Minister, the completion of the Mineral Export Guidelines would necessitate the review of the Crude -Oil and Gas Export Guidelines to streamline the export process in a manner that would accommodate the peculiarity of the sector.
He stressed that the review would trigger a more self- reliant and sustaining environment performance of the Gas sector.
Edun solicited the co-operation of all Stakeholders to play by the rules in order to achieve the much-desired efficiency and effectiveness in trading across borders.
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